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Acceptance of medical insurance as a measure contributing to employee welfare is growing steadily with specialized medical insurers offering a good range of options meeting the various needs. It's a learning experience as insurance providers seek to manage claims against optimum premium prices in a competitive market. This trend should be allowed to take its own course without attempting to prescribe minimum norms through regulation industry executives averred.
Medical Insurance in the U.A.E is growing steadily and the private sector is getting to be involved in it more and more. Experience has now started to increase. Newcomers in this business are introducing fierce competition-There are more than 20 companies selling medical insurance but of them only 8 to 10 are professionals doing proper medical insurance while others do not have any sizeable portfolio,' says Dr. Abdul Zahra Abdullah Ali, general manager of National General Insurance.
According to Dr. Ali, there are around 300,000 people covered by medical insurance schemes of the private sector. This number is contributed by several group insurance schemes. These schemes cover the entire range of corporate from private firms to government, semi government organizations and multinationals.
This growth trend is set to continue and in 2004 we expect growth of medical insurance to be at least 30%, says Dr. Ali.
Covers under medical insurance range from local area coverage of only in-patient care to full medical care covers including inpatient, out patient care, plus all medicines and diagnostic services that can be accessed at any part of the world. A key element in such covers is the process of raising claims. These plans obviously have a wide price range
www.khaleejtimes.com
Posted on March 6, 2004
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